The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1887-12-09

osPevt or the Cenpsralsr ~ sh~ Csrr..-
esths operstions - National Hanks ns''
Tag ehe Last Fiscal Year. with s.,--f'
ssnns -. % Amend'n~nts' 4" she Law. CO...
erning b same. ~"
nual report Of the Comptroller Of the q nrr,sa
now In print will he presented 70 Conrres. !.
the nrss day Of the session.
The report shows that the total nnmhe..
National banks organized up 20 the si.t ~ n,
tobcr n 8.el6. Of which 6:t have gone ~, ,s
untary liquidation 10 have failed. leav,n.
operation ~ that date 3O6i. Of this num-.
3nte furnished reports Of condition a. The a..
az the last call. October s. 81 which 4 W.
piete abstract has been furnished.
The total number OF new banks formes A..
ing the last year Is s25; the total numss,
closed during the year Is a. % which - MA.
into voluntary liquidation and = failed.
The new banks comprise . IN New Fnr,,,.
y IN The Middle States, ., In the south4~
= ntcs, fu7 IN the Central States and 81 ~ IN.
Western States and Territories.
OF the failed banks. I was In New Fnrlara
2 IN the Middle States. 4 In the soatl. -
States and I In the Central States.
The gross Increase In National hank ca,A,.,
during the year amounts 10 f}6.sJt.11i. az uhl \
olSGaO05 represent an increase of capitaI \.
~ ISL ANM4 There has
heen. however a decrease Of capital on ss9
zsa. OF which NOS. 80 is the aggregate capl,,
OF the thirty three banks witch wen. lro
voluntary liquidation and failed. ana ,he -.
mainder represents . decrease OF the caus,,,
BY banks still In operation
The net increase OF capital for the wear .
therefore. tn.5.s.3s5. On the other hama
there is q net decrease OF syo. i95. $40 in the AZ.
cuiation represented by bonds
The decrease resulting from The surrender \,
circulation by banks still in operation i Al.
sso.<s5. and the decrease caused by hank
going into voluntary liquidation and failing !
N.s74.3ap. making n gross decrease Of ssa.g4.
SSa Offset by a total increase OF sS.snN.
which consists OF an increase bv the forma,so,
Of new banks Of ts.s9a0oo. an increase o. III.
culation by previously existings banks 70 the
amount OF e.m5.f.5.
The Affairs OF hvo failed banks have been
closed during the year. including among them
one OF those which failed during the year. In
four cases out Of the 1--WE the creditors have
received payment Of principal and interest IN
full Ant there has been q balance o. assets
transferred 70 m agent OF the stockholders.
InIthe other case. that Of a bank which failed
IN 1872. the total dividends amount TO Il per
rent. In each case . detailed account Is given
Of the cause Of failure and the progress made
IN liquidation
The total amount Of money paid IN divided,
during the past year Is o. io6,sJ3ti; the Whole
amount paid 20 creditors Of insolyent banks
since the system aas been In operation Il a.,
<3t.sS upon proved claims amounting TO W
a3Ssse; the total assessments on stockhol 'es
ea.ss,. 80. OF which the gross collections hav'
been e4.eiaBo.
Very full statistics have been collected abou
the State banks. savings banks. loan and trust
companies and private banks and bankers
throughout the country.
The suggestions made by the comptroller a
20 amendments to the laws are in the form Q
. code revising and consolidating an existirI
laws. with . number Of changes. each % vhc
IS fully explained and the reasons for IL arr <
forth ~ considerable length. The NOS
important OF the changes Recommended is'h'
the minimum amount OF bonds 70 be deposlis
As security for circulation shall he
per cent. OF the capital OF banks Of n
over es5O.OO and tc5.OO for banks OF which !,
capital exceeds ta50.c00: also that the sen
annual duty on circulation be hereafter charg'
only on the amount issued upon bonds depo
tied in excess ofthe minimum amount as abov
He also recommends that the National bar
notes te counted - q part Of the lawful rcser'
OF the banks
The existing provisions Of law as 70 the r
sponsibility Of oficers and directors OF banl
are mrdined 90 a. 10 avoid heretofore fxistln
obstacles 10 their prompt and certain enicrc
ment
The restriction upon banks - 20 maxi
loans in excess Of 10 per cent. Of capital 70 o
one party Is modified in rcspec. 70 loans up
collateral security and the total limit Is rails
20 - per cent. Of capital and surplus.
The provisions rs 20 reserve upon de7cs
are modified 50 Is not 70 include Governns
deposits IN the amount upon which RESERVES
b. paid The provisions ns 10 state taxafi
Of National banks Il also modified.
The proposed code has been transmitted
every senator and Representative with a GO
1cation OF all existing laws on the subject
ranged In sections parallel with those oi
proposed code and accompanied by . letter :
planning each OF the more important chang
| and rfrinn the reaxnn II erefor.